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Iran nuclear deal: from US walkout to fresh sanctions Tehran, Nov 2 (AFP) Nov 02, 2018 The United States last May quit the landmark 2015 Iran nuclear deal aimed at halting Tehran's nuclear ambitions. It reimposed a first wave of sanctions on the Islamic republic in August and is due to pass the remaining tranche on November 5 targeting its crucial oil industry and central bank. Here are the key developments since that dramatic walkout:
"The Iran deal is defective at its core," he says. The move provides for the reinstatement of US sanctions on Iran and companies with ties to the Islamic republic. Washington warns other countries to also end trade and investment in Iran and stop buying its oil, or face punitive measures. It says sanctions will take effect immediately for new contracts and gives foreign companies an additional 90 to 180 days to end existing trade with Iran. But other parties to the deal -- Britain, France, Germany, Russia and China -- insist Iran has abided by its commitments and say they are determined to save the agreement.
Washington warns on May 21 that Iran will be hit with the "strongest sanctions in history" unless it capitulates to a series of demands aimed at curbing its missile programme and interventions around the Middle East.
On July 6, Tehran's five remaining partners in the nuclear accord vow to back "the continuation of Iran's exports of oil and gas". On July 16, EU countries reject the US demand that they economically isolate Tehran and they move to give European firms legal cover to operate in Iran. But the next day European sources say the US has dismissed requests to spare its firms from sanctions penalties.
Trump responds with an all-caps Twitter tirade telling him to stop making threats "OR YOU WILL SUFFER CONSEQUENCES". On July 30, however, Trump says he is ready to meet Iranian leaders "anytime they want" and promises "no preconditions".
They involve freezing financial transactions and imports of raw materials, and penalties on purchases in the car and commercial aviation sectors. Within hours German carmaker Daimler says it is halting its activities in Iran. On August 20, Iran's oil minister announces French energy giant Total is quitting its multi-billion dollar gas project in the country. Several major international companies follow suit.
A "legal entity" will allow businesses to transfer money without coming under Washington's scanner, foreign policy chief Federica Mogherini says, although analysts remain highly sceptical that private firms will be willing to risk US penalties by using it.
The following day, Secretary of State Mike Pompeo says Washington is terminating the treaty. There have been no diplomatic relations between the rivals since 1980. acm/eab/br/er/hc/ecl
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